Insider Selling: Fortrea (NASDAQ:FTRE) CFO Sells $12,228.28 in Stock

Fortrea Holdings Inc. (NASDAQ:FTRE) CFO Jill Mcconnell sold 881 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $13.88, for a total transaction of $12,228.28. Following the completion of the transaction, the chief financial officer directly owned 59,574 shares of the company’s stock, valued at approximately $826,887.12. This represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fortrea Stock Performance

NASDAQ FTRE opened at $9.79 on Friday. Fortrea Holdings Inc. has a 52-week low of $3.97 and a 52-week high of $18.67. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $904.60 million, a P/E ratio of -0.87, a P/E/G ratio of 0.30 and a beta of 1.59. The company has a fifty day moving average of $16.20 and a 200-day moving average of $12.02.

Institutional Trading of Fortrea

A number of institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its position in Fortrea by 6,802.4% during the 2nd quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock valued at $28,000 after buying an additional 5,578 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Fortrea by 214.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after acquiring an additional 2,278 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Fortrea by 136.7% during the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares during the period. Osaic Holdings Inc. grew its stake in shares of Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Fortrea by 137.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after purchasing an additional 5,036 shares during the last quarter.

Wall Street Analyst Weigh In

FTRE has been the topic of several recent research reports. Mizuho set a $15.00 price objective on Fortrea in a research report on Friday, January 9th. Robert W. Baird set a $19.00 target price on Fortrea in a research note on Wednesday, January 14th. Citigroup upgraded shares of Fortrea from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $21.00 in a research report on Thursday, December 11th. Zacks Research downgraded shares of Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Wall Street Zen cut shares of Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.75.

About Fortrea

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.